Canadian Auto Industry Seeing No Reduction In Accidents, But Greater Severity

The Canadian auto industry overall is seeing no reduction in car accidents and “big cost pressures upward on severity coming from both injuries and the repairs of cars themselves,” a speaker suggested last week at the National Insurance Conference of Canada (NICC). “We see a lot of upward gusts of pressure coming from third-party liability claims and injuries in general in most provinces,” said Patrick Barbeau, senior vice president of claims with Intact Financial Corporation. “Frequency overall is not going down and severity is going up at a much faster pace than the average inflation.”